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Key indices add some gains in morning deals
Aug-03-2021

Indian equity benchmarks added some gains in morning session amid gains in Consumer Durables, FMCG and IT stocks. Sentiments remained up-beat as the Reserve Bank of India said India's services exports increased 24.1 per cent month-on-month to $19.72 billion in June 2021. The exports stood at $17.35 billion in May and $17.54 billion in April. The RBI further said imports in June were valued at $11.14 billion, up 24.8 per cent on sequential basis. Some support also came with Finance Minister Nirmala Sitharaman’s statement that the government’s net tax revenues grew 5 per cent in the fiscal year ended March 31, 2021 (FY21). The net tax (sum of direct and indirect taxes) revenue in 2020-21 was over Rs 14.24 lakh crore, a nearly 5 per cent growth from Rs 13.56 lakh crore in the previous financial year. Meanwhile, the Centre informed that over 29.55 crore loans amounting to Rs 15.52 lakh crore have been sanctioned under Pradhan Mantri Mudra Yojana (PMMY) across the country since its inception in April 2015. On the global front, Asian markets were trading mostly in red as the Delta coronavirus variant spread in key markets in the region and put Chinese authorities on high alert, rattling investor confidence.

The BSE Sensex is currently trading at 53288.30, up by 337.67 points or 0.64% after trading in a range of 53088.35 and 53300.86. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.01%, while Small cap index up by 0.37%.

The top gaining sectoral indices on the BSE were Consumer Durables up by 1.50%, FMCG up by 0.87%, IT up by 0.81%, TECK up by 0.80% and Consumer Discretionary up by 0.73%, while Metal down by 1.26%, Basic Materials down by 0.46% and Oil & Gas down by 0.05% were the top few losing indices on BSE.

The top gainers on the Sensex were Titan Co up by 4.06%, Asian Paints up by 2.28%, Sun Pharma up by 1.61%, Bharti Airtel up by 1.40% and TCS up by 1.29%. On the flip side, Tata Steel down by 1.34%, Bajaj Auto down by 0.51%, ICICI Bank down by 0.32%, HCL Technologies down by 0.28% and NTPC down by 0.21% were the top losers.

Meanwhile, the National Statistical Office (NSO) in its periodic labour force survey said that unemployment rate rose to 13.3 percent in July-September 2020 as compared to 8.4 percent in the year-ago period. Joblessness or unemployment rate (UR) is defined as the percentage of unemployed persons in the labour force. The UR was 20.9 per cent in April-June 2020.

As per the survey, labour force participation rate for all ages was 37 per cent in September quarter 2020, up from 36.8 per cent in the same period a year ago. It was 35.9 per cent in April-June 2020. Labour force refers to the part of the population which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and therefore, includes both 'employed' and 'unemployed' persons.

NSO launched PLFS in April 2017. On the basis of PLFS, a quarterly bulletin is brought out giving estimates of labour force indicators namely UR, Worker Population Ratio (WPR), Labour Force Participation Rate (LFPR), distribution of workers by broad status in employment and industry of work in Current Weekly Status (CWS).

The CNX Nifty is currently trading at 15973.45, up by 88.30 points or 0.56% after trading in a range of 15914.35 and 15974.00. There were 37 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were Titan Company up by 4.06%, Asian Paints up by 2.28%, Britannia Industries up by 1.72%, Bharti Airtel up by 1.65% and Tata Motors up by 1.63%. On the flip side, JSW Steel down by 2.07%, Grasim Industries down by 1.80%, ONGC down by 1.32%, Tata Steel down by 1.22% and UPL down by 1.04% were the top losers.

Asian markets were trading mostly in red; Hang Seng decreased 248.64 points or 0.95% to 25,987.16, Nikkei 225 slipped 158.92 points or 0.57% to 27,622.10, Straits Times trembled 26.43 points or 0.84% to 3,134.79 and Taiwan Weighted dropped 5.39 points or 0.03% to 17,497.89.

On the flip side, Shanghai Composite gained 0.02 points or 0% to 3,464.31, KOSPI rose 6.34 points or 0.2% to 3,229.38 and Jakarta Composite soared 37.89 points or 0.62% to 6,134.43.

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